The federal budget deficit totaled $439 billion in October and November 2025, the first two months of fiscal year 2026, CBO estimates. That amount is $185 billion less than the deficit recorded during the same period last fiscal year.
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Monthly Budget Review: November 2025

The federal budget deficit totaled $439 billion in October and November 2025, the first two months of fiscal year 2026, CBO estimates. That amount is $185 billion less than the deficit recorded during the same period last fiscal year.

    

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